Loading
This thread is archived and the information may not be up-to-date. You can't reply to this thread.
JodieR_ATO(Community Support)Community Support
3 Aug 2022

Hi @the40,


If you want to access your super as a lump sum you need to meet a condition. This can include retirement if you have no intention to return to work and have met preservation age. However, you'll need to report the lump sum amount if you're under 60yrs of age when you receive it. If your 60yrs+, you only need to report the untaxed element on your return. You can check with your fund on what your taxable components are.

109 views
1 replies
109 views
1 replies

All replies

the40(Newbie)Newbie
3 Aug 2022

Thank you for the answer. To clarify it further, if the tax-return reported lump sum is below the low rate (threshold cap), which is about $225k, then there is no ATO tax, am I right? Kind regards.

Loading
RE: departing citizen ATO super tax | ATO Community